{"id":4982,"date":"2024-10-01T10:28:55","date_gmt":"2024-10-01T09:28:55","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=4982"},"modified":"2024-10-01T10:31:57","modified_gmt":"2024-10-01T09:31:57","slug":"passing-your-pension-to-the-next-generation","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2024\/10\/01\/passing-your-pension-to-the-next-generation\/","title":{"rendered":"Passing your pension to the next generation"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Your pension isn\u2019t just a retirement savings pot, it\u2019s an effective tool to help support future generations. In addition to ensuring your financial certainty when you finish working, defined contribution pensions are a tax-efficient way of passing on your wealth.<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Pensions can sit outside your estate for IHT purposes, so the money within your defined contribution pension can be passed onto your loved ones without incurring any IHT.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Alleviate some financial pressures<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>With financial pressures mounting for many people, you might consider a tax-efficient gift of a pension worth passing on to your children perhaps. Your loved ones will usually inherit the pension itself rather than the money inside it, meaning they can continue to benefit from the tax advantages, including tax-free investment growth.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>As another option, you may wish to consider starting a pension plan, within limits, for a child, rather than (or in addition to) leaving them yours. Looking further ahead your children might even pass the pension onto their children, still without paying a penny of IHT if current rules still apply.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Passing a pension on might not be the right choice for everyone, there\u2019s plenty to consider.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.<\/em><\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Your pension isn\u2019t just a retirement savings pot, it\u2019s an effective tool to help support future generations. In addition to ensuring your financial certainty when you finish working, defined contribution pensions are a tax-efficient way of passing on your wealth.&nbsp; Pensions can sit outside your estate for IHT purposes, so the money within your defined [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":4983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,77],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/4982"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=4982"}],"version-history":[{"count":6,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/4982\/revisions"}],"predecessor-version":[{"id":4989,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/4982\/revisions\/4989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/4983"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=4982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=4982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=4982"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=4982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}